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Legislative News and Views - Rep. Jim Knoblach (R)

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BILL TO ASSIST TAXPAYERS PASSES HOUSE

Thursday, January 15, 2015

 

ST. PAUL – A bill Rep. Jim Knoblach, R-St. Cloud, co-authored to provide relief for Minnesotans as they file their taxes this season gained broad bipartisan approval in the House Thursday.

 

 

The bill (H.F. 6) matches Minnesota’s tax code with some of the federal tax changes made since 2013. The changes are effective for all 2014 tax returns and, in total, provide $19.9 million in immediate tax relief to Minnesotans.

 

 

“It was important to get these changes in place promptly, providing citizens with these tax benefits as soon as possible,” Knoblach said. “This bill will save money for many hardworking Minnesotans and also provide them with some certainty as they file. I urge the Senate to act quickly so we can get this to the governor for his review.”

 

 

Key provisions of the bill include:

  • Higher education tuition deduction

    • $2.1 million in fiscal year 2015; about 9,000 returns; $70 average tax decrease

  • Educator classroom expenses deduction

  • $1.2 million in fiscal year 2015; about 60,000 returns, $20 average tax decrease

  • $4.6 million in fiscal year 2015; about 60,000 returns; $75 average tax decrease

  • Mortgage insurance premiums deduction

 

Other provisions pertain to charitable contributions and assist small businesses. The changes were fast-tracked through the Legislature in order to provide citizens with a full three months of lead time before the April 15 tax deadline.

 

 

Knoblach, who chairs the Ways and Means Committee, passed the bill through that panel Wednesday, paving its way to advancing through the full House on a 129-0 vote. It now awaits action from the Senate on a companion bill.

 

 

 

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